ASEAN, Japan, China, S. to cooperate on finance, food security

Vientiane, Laos, July 27 (GG Press) – The foreign ministers of Japan, China, South Korea and Southeast Asian member states on Saturday confirmed the Chiang Mai Initiative, a regional currency swap arrangement to resolve financial crises. Also used during natural calamities.

The ministers also agreed to work together in the field of food security at a meeting in Vientiane, the capital of Laos.

Japanese Foreign Minister Yoko Kamikawa said maintaining and strengthening the international order based on law is important for the region to pursue sustainable economic development.

He also said that Japan wants to live up to the expectations of ASEAN countries by working closely with China and South Korea.

The participating ministers also exchanged views on other regional issues, including North Korea’s nuclear and missile development and the ongoing political instability in Myanmar.

[Copyright The Jiji Press, Ltd.]